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Norcros PLC on Monday said it received UK Competition & Markets approval for its acquisition of Oslo-based Fibo Holding AS. Norcros, a Wilmslow, Cheshire-based supplier of bathroom and kitchen products, will pay £46 million for the takeover, which it said completes on Monday. Chief Executive Officer Thomas Willcocks said: ‘We are delighted that the transaction has cleared this final regulatory hurdle and can now be completed. This strategically compelling acquisition will give Norcros a strong platform to accelerate our geographic expansion across Scandinavia and Central Europe for both Fibo and our existing brands. We welcome our new Fibo colleagues to the Norcros team and we are looking forward to working together on our shared growth plans for the region.’ Fibo for 2024 had reported net sales of around £63 million and earnings before interest, tax, depreciation and amortisation of £7.3 million, with 70% sales from mainland Europe and 30% from the UK. ‘Once integrated under Norcros’s ownership, we expect Fibo, under the current experienced management team, to benefit from our proven scale-based growth accelerators and operational efficiencies, augmenting Fibo’s strong geographic growth plan,’ Norcros said. Norcros shares rose 2.8% to 279.50 pence each on Monday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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